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15 orders · Page 1 of 1
The Tribunal upheld the additions made by the AO and sustained by the CIT(A). The assessee failed to provide credible evidence for the source of funds and the purchase of assets for which depreciation was claimed.
The Tribunal noted that the issue of VAT remission as part of business profit is generally in favor of the assessee, supported by CBDT circulars and judicial precedents. However, since these aspects were not examined by the lower authorities due to the assessee not filing an appeal against the original assessment order, the Tribunal dismissed the current appeal.
The Tribunal held that grant-in-aid and interest on surplus grant are not taxable as they are restricted grants. However, 'other income' (sale of bidding documents, miscellaneous receipts) is taxable on a net basis after allowing for expenditure incurred in earning it.
The Tribunal held that grant-in-aid and interest on surplus grant are not taxable as they are restricted grants. However, 'other income' (sale of bidding documents, miscellaneous receipts) is taxable on a net basis after allowing for expenditure incurred in earning it.
The Tribunal held that grant-in-aid and interest on surplus grant are not taxable as they are restricted grants. However, 'other income' (sale of bidding documents, miscellaneous receipts) is taxable on a net basis after allowing for expenditure incurred in earning it.
The Tribunal set aside the issue of sundry creditors to the Assessing Officer for re-adjudication after fresh examination. The issue of tea shortage was also set aside for fresh examination by the Assessing Officer, as it was not originally examined by him. The penalty appeal was also set aside as premature.
The Tribunal held that grant-in-aid and interest on surplus grant are not taxable as they are restricted grants. However, 'other income' (sale of bidding documents, miscellaneous receipts) is taxable on a net basis after allowing for expenditure incurred in earning it.
The Tribunal set aside the issue of sundry creditors to the Assessing Officer for re-adjudication after fresh examination. The issue of tea shortage was also set aside for fresh examination by the Assessing Officer, as it was not originally examined by him. The penalty appeal was also set aside as premature.
The Tribunal held that grant-in-aid and interest on surplus grant are not taxable as they are restricted grants. However, 'other income' (sale of bidding documents, miscellaneous receipts) is taxable on a net basis after allowing for expenditure incurred in earning it.
The Tribunal held that grant-in-aid and interest on surplus grant are not taxable as they are restricted grants. However, 'other income' (sale of bidding documents, miscellaneous receipts) is taxable on a net basis after allowing for expenditure incurred in earning it.
The Tribunal held that the reopening of assessment was bad in law because the notice under section 148 was issued by an officer who lacked territorial jurisdiction over the assessee. Consequently, the assessment order was not sustainable.
The Tribunal held that a retracted statement, without corroborating incriminating material found during the search, cannot be the sole basis for making additions. The CIT(A) was justified in deleting the additions.
The Tribunal held that a retracted statement, without corroborating incriminating material found during the search, cannot be the sole basis for making additions. The CIT(A) was justified in deleting the additions.
The Tribunal restored the issue of examining the source of cash deposits to the file of the CIT(A) for fresh adjudication. This was due to concerns about whether the assessee was given a proper opportunity to explain the source of the cash.
The Tribunal restored the issue of examining the source of cash deposits to the file of the CIT(A) for fresh adjudication. This was due to concerns about whether the assessee was given a proper opportunity to explain the source of the cash.